Shares in Deutsche tumbled another 4.7pc on Tuesday. The bank’s shares fell to €13.26 and are now down 46pc since the start of the year and 58pc in the last six months. Last month the bank reported a €6.8bn (£5.3bn) loss for 2015.

Deutsche has led the wider banking market down as fears spread over the profitability and financial stability of Germany’s biggest bank. Yesterday Swiss institution Credit Suisse’s shares were down by almost as much, plunging 7.75pc. Spooked investors also sold off shares in other banks, leaving Barclays down 5.2pc, BNP Paribas down 4.8pc and Italy’s Intesa Sanpaolo down 4.9pc.

The turmoil in stock markets since the start of the year has been driven in part by worries over the strength of China’s economy as well as the crash in commodities prices, but investors are particularly concerned by the banking sector’s ability to cope with another downturn.

Investors have also been fleeing Deutsche’s bonds. Analysts have warned that if the bank has any large unexpected costs it may, from next year, be unable to pay the interest on its contingent convertible bonds (or “cocos”). The relatively risky class of securities – also known as AT1s – is designed to ensure that institutional investors pay the bill to help bail out any troubled bank, rather than the taxpayer.

“Deutsche Bank is determined to pay coupons, not least because it needs to issue at least another €3bn – €4bn of AT1s to meet its leverage ratio targets ,” said Simon Adamson at CreditSights.

Shares in Credit Suisse are also down sharply – its chief executive Tidjane Thiam has cancelled a portion of his bonus

Mr Cryan also said he has told investors that the bank has the capacity to pay their “coco” coupons.

“On Monday, we took advantage of [our financial] strength to reassure the market of our capacity and commitment to pay coupons to investors who hold our AT1 capital. This type of instrument has been the subject of recent market concern,” the chief executive said.